US-dollar rate in Turkey exceeds 3.63 TRY

Baku. 6 July. REPORT.AZ/ The US-dollar rate in Turkey exceeded 3.63 TRY. 

Report informs, strengthening of the dollar not met by financial market unequivocally. Thus, domestic investors have been surprised by the strengthening of the dollar, which has dropped by 1.5% against euro, which is the main rival of world currency.

The reason is outflow of large foreign investment from Turkish bond market. However, foreign investors have invested in Turkish stock exchanges. Thus, in June, foreign investors purchased shares worth $ 260 mln from Turkish stock exchanges.

Analytical Group of Report informs, rise in US-dollar in Turkey may be speculative. Thus, if dollar continues to decline in the world market in near future, it will again return to the level of 3.50 liras in Turkey. If dollar remained stable then the dollar's fall in the world market would have led to its falling to 3.40 liras in Turkey.

Therefore, it is likely that in the coming days the dollar will fall below 3,60 TRY / USD, but will remain above 3,50 TRY/USD. By the end of the year, the dollar can rise to 3.80 liras”, the analysts noted.